UBM Asia acquires Novomania

UBM Asia announced last week that it signed a binding agreement with Novomania

organisers Novo Mania Limited to acquire the annual Shanghai fashion fair. UBM will own 60 percent of the new joint venture company called UBM Novomania and will organise the show from 2013 onward.

“China is already the second-largest apparel market in the world and is set to surpass the US to become the world’s largest market in a few years. We are very pleased to partner with Novo Mania Limited in the development and growth of this cutting edge fashion event targeted at the very rapidly-growing urban youth segment of the market. This joint venture continues our strategy of focusing on sectors and markets with the most exciting growth potential,” said Jime Essink, President & Chief Executive Officer of UBM Asia.

Founded in 2010 as an annual fashion fair, Novomania brings not only designers, brands, buyers, distributors, franchisees and retailers together but also adds department stores, mall operators, real estate developers and the media to the mix. Thus, international brands wanting to enter the Chinese market get an introduction to local retail concepts while domestic brands can find new business opportunities.

Last year, Novomania attracted 13,000 visitors and 117 exhibitors from 13 countries. For Novomania 2013, held from 17th to 19th July at Shanghai Mart, around 20,000 visitors and 200 exhibitors are expected.